Bank of Canada appoints Filipe Dinis as COO

Reuters Staff

2 Min Read

TORONTO (Reuters) - The Bank of Canada said on Monday it appointed Filipe Dinis as its chief operating officer, a newly created role in which he will manage the central bank’s administrative functions.

Dinis joins the bank from the federal Privy Council Office, where he is assistant secretary to the Cabinet and provides strategic advice and analysis to the Clerk of the Privy Council, the Bank of Canada said.

He also serves as secretary to the prime minister’s advisory committee on the public service. Prior to that, Dinis was chief financial officer at the Canada Revenue Agency.

Dinis will be take up the new position role as of May 5 and will be responsible for managing all of the central bank’s administrative functions, including oversight of its corporate administration departments and operational planning.

“Filipe brings years of experience in strategic planning, managing change, and developing and administering operational plans, all of which will be vital for the Bank as we continue to fulfill our mandate to promote the economic and financial welfare of Canadians,” Bank of Canada Governor Stephen Poloz said in a statement.

The COO position was created earlier this year to split some tasks that previously had been the responsibility of the Bank of Canada’s senior deputy governor. Dinis will have no role in setting monetary policy.

Separating these responsibilities will allow the next senior deputy governor to focus more on conducting monetary policy and promoting financial stability, the Bank of Canada said.

Previously, the senior deputy governor had been required to do the work of a COO, as well as help set policy.

The current senior deputy governor, Tiff Macklem, will step down on May 1.